The rumours about Windows possibly being ported to ARM has left a lot of people bewildered; why would you port Windows NT when Windows CE 6.0 is a perfectly capable operating system? Putting all the pieces together, it's actually quite clear why you would want Windows NT on ARM: servers.

Windows ARM is a reaction to Google Chrome... and to a somewhat lesser extent the ipad... it's not (only) about the servers... though I would not be surprised if the move was initiated by the Axure team.

The smartbook/netbook market segment is crap because there isn't a great OS for them. Chrome is not impressive yet(give it a couple years), but it has to scare Microsoft. Windows ARM is likely to be their cloud OS for tablets and smart/netbooks.